Page History

The functionalities on Cash Refund is the same with Credit Memo. The primary difference is A Cash Refund should only be used to refund a prepayment or overpayment. A cash refund is issued immediately and has no impact on the Accounts Receivable is enteredGeneral Ledger. The GL impact is credit on Undeposited Funds. If an item is added to the cash refund, inventory will be adjusted back up for that inventory.

Here are the steps in creating a Cash Refund.

1. Open the Sales | Invoices menu. If there is no existing record yet, this will open a new Invoice screen. If not, click the New button to open a new Invoice screen. 
   Some of the fields, like the Source, Type, Invoice Date, Post Date, Location, Ship Date, Account,Deliver/Pickup, Currency, and Accrual are already populated by default.
2. Fill out the header details as needed. The required details are Customer, Location, Bill To, Ship To, Terms, and Currency.
   1. Select a Source. The options are Standard, Software, Tank Delivery, and Provisional.
   2. Set the Type to Cash Refund.
   3. Select a Customer.
   4. Select a different Location, Bill To, Ship To, Terms, and Currency if needed. But don't leave these fields blank.
   5. Enter other details that you see necessary. Refer to Invoice | Field Description | Header Details to help you in filling out the fields. 
3. Add details on grid. Refer to Invoice | Field Description | Grid Details to help you in filling out the fields. Note that UOM is a required detail.
   1. Complete filling in the Item No, Shipped, UOM, Price and other fields necessary to ensure they are appropriate for the customer's invoice.
   2. The grid will also allow you to enter miscellaneous items that do not have an Inventory Item record. You can do this by not selecting an Item No and simply entering its Description, Shipped and Price, and other necessary details.
4. Click on the Prepaids and Credit Memos tab
   1. Click on the Apply checkbox next to the record that you wish to refund 

5. Save or Post Save the record. The Invoice No field will be filled in with a unique and system generated number.

   Note
   You can skip saving the record if the transaction is to be posted right away since it will be saved automatically.

   Here is a sample cash refund.

   
   Let us view the GL entries when this invoice is posted. Click the Recap button. Notice that is has a direct impact on Undeposited Funds, and not on Accounts Receivable.
   

...